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Wireless Earphones Global Market Report 2023
Major players in the wireless earphones market are Apple Inc., Bose Corporation, Sony Corporation, Koninklijke Philips, Sennheiser Electronic, Samsung Group, LG Electronics, Skullcandy, Panasonic Corporation, Plantronics Inc.
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wireless Earphones Global Market Report 2023" - https://www.reportlinker.com/p06248524/?utm_source=GNW
, Shure Incorporated, Japan Victor Company (JVC), One Plus Technology Co. Ltd., Logitech International S.A., Harman International Industries Inc., Zebronics India Pvt. Ltd., Motorola Solutions Inc., HTC, Nokia, LG Electronics, and Fujikon Industrial Holdings Ltd.
The global wireless earphones market grew from $4.89 billion in 2022 to $5.19 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The wireless earphones market is expected to grow to $7.05 billion in 2027 at a CAGR of 7.9%.
The wireless earphones market consists of sales of neckband wireless earphones, in-ear wireless earphones, true wireless stereo (TWS) wireless earphones, and other wireless earphones.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A wireless earphone is an electrical device that fits over or in your ears that transmits audio signals through radio or infrared (IR) signals, depending on the device.Wireless earphones get connected to the device via Bluetooth technology or Wi-Fi.
Wireless headphones are connected to a device such as a computer, television, stereo speaker, smartphone, gaming console, and other electronic devices without using a cable or wire.
North America was the largest region in the wireless earphones market in 2022.Asia-Pacific is expected to be the fastest growing region in the forecast period.
The regions covered in the wireless earphones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of wireless earphones are in-ear, neckband, and TWS (True Wireless Stereo) and are connected by Wi-Fi and Bluetooth. They are used in music and entertainment, sports and fitness, gaming and virtual reality and are available at hypermarkets/supermarkets, multi-branded stores, exclusive stores, and online channels.
A rising preference for wireless devices connected with the improved use of smart technology is predicted to fuel demand for wireless earphones over the forecast period.The rapid technological advancements in portable consumer electronic goods, including earphones, are witnessing significant innovations leading to vast transformation in sound output, appearance, connectivity, and portability.
The surge in affordability of wireless connectivity and the introduction of new variants with value-added features are shifting customers towards wireless earphones.According to the Cellular Telecommunications Industry Association (CTIA), around 80% of customers think that wireless services are a necessity.
In addition to this, approximately 5.1 billion people are using mobile worldwide and 89% of people prefer to keep their smartphones within their reach globally. Thus, the growing preference for wireless devices along with the increased use of smart technology is expected to drive the growth of the wireless earphones market.
The limited connecting accessibility in regards to distance range from the device is restricting the growth of the wireless earphone market.Wireless earphones are connected to devices using a procedure called pairing.
Most of the wireless earphones with class 2 have a standard operating of around 33 feet, only a couple of wireless earphones of class 1 have a range up to 300 feet.Earphones within this range connections are crystal clear.
For example, Sony MD-RXB50AP uses a greater frequency range of 4-24,000 Hz than Audio-Technica SPORT2BK with 15-24,000 Hz.A significant change between the lowest and highest values signifies a larger range of coverage.
Thus, poor connecting accessibility from the device is likely to hinder the growth of the wireless earphone market in the coming years.
Technology advancements are a leading trend gaining popularity in the wireless earphones market.Major players operating in the market are continuously focusing on technological innovations to meet customers’ requirements and expand the company’s customer base.
For instance, in August 2020, Sony introduced the WF-1000XM3 true wireless earphones with active noise cancellation in India.Sony WF-1000XM3 comes with a proprietary QN1e processor for active noise cancellation.
The earphones have 6mm, dynamic drivers, a frequency response range of 20Hz to 20,000Hz, Bluetooth 5.0 for connectivity, and support for the SBC and AAC Bluetooth codecs.
In January 2022, Vitec Imaging Solutions, an Italy-based premium branded hardware and software solutions provider acquired Audix Corporation for an undisclosed amount.With the acquisition, Audix accelerates and strengthens its audio capture strategy by bringing additional specialist R&D capabilities to enable the group to design and build microphones in-house.
Audix Corporation is a US-based designer and manufacturer of wireless earphones and electronic components.
The countries covered in the wireless earphones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The wireless earphones market research report is one of a series of new reports that provides wireless earphones market statistics, including wireless earphones industry global market size, regional shares, competitors with a wireless earphones market share, detailed wireless earphones market segments, market trends and opportunities, and any further data you may need to thrive in the wireless earphones industry. This wireless earphones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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